Why Home Insurance Rates Are Rising So Fast Across the US – Climate Change Plays a Big Role

Insurance companies use data from past disasters and complex models to calculate expected future payouts and price their policies accordingly. But climate change is disrupting those risk models. Severe storm surges, massive wildfires, and large hail—these unprecedented weather events bring enormous insurance premiums and limited coverage. Andrew Hoffman, a U-M professor and expert on environmental issues and sustainable enterprise, breaks down this burden on homeowners in a piece for The Conversation.